| Business Unit |
Dimension |
The BU responsible for the business |
| Reporting Date From |
Date |
The first date of the reporting period |
| Reporting Date To |
Date |
The final date of the reporting period |
| Date of Analysis |
Date |
The date when the analysis has been performed |
| Product ID |
Dimension |
The product ID number assigned by the BU (Legacy System number or Open Policy/Master Contract number) |
| Type of Account |
Dimension |
Distinguishes between global and local Business Partner accounts |
| Channel |
Dimension |
Groups of Business partners by types of where products are sold |
| Product Family |
Dimension |
The name of the product family which the product belongs |
| Product Name |
Dimension |
The name of the product written on the Policy |
| Business Partner |
Dimension |
The name of the business partner |
| Sub Line of Business |
Dimension |
Product groupings based on global definitions |
| Standard Product |
Dimension |
Distinguishes between standard and non-standard products |
| Business Type |
Dimension |
Distinguishes between insurance, reinsurance, and service |
| Written Revenue |
Metric |
Total amount of the selling prices charged to the final costumers, net of taxes and net of Reinsurance |
| Earned Revenue |
Metric |
Earned part of Written Revenue net of Taxes and net of Reinsurance |
| Earned Revenue Mix |
Calculation |
‘Earned Revenue’ over total ‘Earned Revenue’ |
| Loss Ratio |
Calculation |
‘Incurred Losses’ over ‘Earned Revenue’ |
| Commission Ratio |
Calculation |
‘Earned base commissions’ , ‘Earned over commissions’ and ‘Upfront cash payments’ over ‘Earned Revenue’ |
| Direct Expense Ratio |
Calculation |
Internal variable costs and Allianz Technology fees over ‘Earned Revenue’ |
| Indirect Expense Ratio |
Calculation |
Internal fixed costs and HQ fees over ‘Earned Revenue’ |
| Expense Ratio |
Calculation |
‘Total Expenses’ over ‘Earned Revenue’ |
| Contribution Margin |
Calculation |
1- (The combination of ‘Loss Ratio’, Commission Ratio’, and ’Direct Expense Ratio) |
| Combined Ratio |
Calculation |
The combination of ‘Loss Ratio’, ‘Expense Ratio’, and ‘Commission Ratio’ |
| Profit/Loss |
Calculation |
Currency total of the portion of ‘Earned Revenue’ remaining after removing the ‘Loss Ratio’, ‘Expense Ratio’, and Commission Ratio’ |
| Frequency |
Calculation |
Ratio between ‘Number of Persons Involved in Claims’ and ‘Units of Risk Earned’ |
| Severity |
Calculation |
Ratio between ‘Incurred Losses’ and ‘Number of Persons Involved in Claims’ |
| Number of Persons Involved in Claims |
Metric |
Insured policy holders who have filed claims |
| Units of Risk Earned |
Metric |
Insured policy holders whose risk exposure has elapsed , for instance if a trip occurs |
| Incurred Losses |
Metric |
All losses incurred, including ‘Open Case Reserves’ and ‘Incurred But Not Reported’. In case of Reinsurance, this includes only the part retained by the Company |
| Open Case Reserves |
Metric |
Cash reserved to pay claims that are in adjudication for the evaluation period |
| Incurred But Not Reported |
Metric |
Cash reserved to pay claims that the policy holder is eligible to submit but has yet to do so |